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Wednesday, October 3, 2007

Democrats to unveil foreclosure plan




October 3 2007 BusinessWeek.com
Top congressional Democrats will call Wednesday for the Bush Administration to appoint an adviser to coordinate the federal government's response to mounting foreclosures around the country. The effort by Senate Majority Leader Harry Reid, House Speaker Nancy Pelosi and others is an attempt by Democrats to step up pressure on the White House to respond to the troubles in the housing market. Democrats have been critical of the Bush administration's response to the mortgage market problems, which started among loans made to borrowers with weak credit and has spread to other loans.

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